SEOUL, Sept.11(Korea Bizwire) – German automakers continue to maintain their stronghold in the South Korean import car market, and this dominance extends to the realm of electric vehicle (EV) sales as well. Recent import vehicle registration data from the Korea Association of Imported Automobile Manufacturers (KAIDA) released on Sunday reveals a substantial uptick in the number [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s Hyundai Motor Co. said Tuesday it overtook China’s Wuling Motors Holdings Ltd. to claim the biggest market share in Indonesia’s electric vehicle (EV) market in the first seven months of the year. Hyundai Motor sold 3,913 EVs in Indonesia between January and July, already exceeding the 2,028 [...]
BERLIN, Sept. 4 (Korea Bizwire) – LG Magna e-Powertrain, LG Electroincs’ joint venture with Canadian auto parts maker Magna International Inc., said Monday it will build an electric vehicle (EV) components factory in Hungary. The new 26,000-square-meter production base, the company’s first in Europe, will be built in the northeastern city of Miskolc by 2025, [...]
SEOUL, Aug. 22 (Korea Bizwire) – The hybrid and battery electric vehicle (EV) market in South Korea continues to expand rapidly. The domestic market for hybrid and battery electric cars (combined new acquisition prices) reached 6.12 trillion won (US$4.56 billion) and 2.27 trillion won, respectively, in the first half of this year, according to data [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean carmakers need to speed up developing all-solid-state lithium batteries and securing electric vehicle-related software capabilities to gain a bigger share in the era of electric vehicles (EVs), an auto industry expert has said. All current EVs are powered by lithium-ion batteries, which can catch fire once they [...]
SEOUL, Aug. 18 (Korea Bizwire) — Hyundai Motor Co. is offering subsidies to counter the decrease in demand for electric vehicles (EVs), encompassing both reduced charging fees and discounted vehicle prices. Customers who utilize E-Finance, a financial tool tailored for EV purchases, will be eligible for up to 1.6 million credits (equivalent to 1.6 million [...]
SEOUL, Aug. 3 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it has developed a glove box for electric vehicles (EVs), which will be featured in Kia Corp.’s all-electric EV9 flagship SUV. Inspired by the structure of aircraft cabin storage compartments, the parabolic motion glove box offers a higher [...]
SEOUL, Aug. 1 (Korea Bizwire) — Unlike in the past, when foreign carmakers mainly released high-priced electric vehicles (EVs) in the Korean market, they are now launching a string of new models with lower prices and improved performance to increase the potential for subsidies. The competition was ignited by U.S. electric vehicle maker Tesla Inc.’s [...]
SEOUL, July 23 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp.’s electric vehicle (EV) sales rose 5.9 percent in the United States during the January-June period from a year earlier amid accelerating electrification, an industry association said Sunday. Hyundai and Kia sold a combined 46,826 EV models in the first half [...]
SEOUL, July 20 (Korea Bizwire) — Chinese electric vehicles (EVs) are expanding their presence in South Korea, particularly in the commercial vehicle market. The number of imported commercial vehicles registered in the first half of this year totaled 4,563 units, with Chinese vehicles accounting for 1,451 units, according to local market tracker CarIsYou. Shineray’s electric [...]